eBay (EBAY) Confirms Sale of eBay Classifieds Group to Adevinta for $9.2B
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Adevinta to Acquire eBay Classifieds Group to Create the World's Largest Online Classifieds Company
July 21, 2020 3:04 AM EDTSAN JOSE, Calif., July 21, 2020 /PRNewswire/ --Â eBay Inc. (NASDAQ: EBAY) and Adevinta ASA (OSLO: ADE) today announced they entered into a definitive agreement for eBay to transfer its Classifieds business to Adevinta for a total consideration valued at approximately $9.2 billion, based on the closing trading price of Adevinta shares on the Oslo Stock Exchange on July 17, 2020. As part of the transaction, eBay will receive $2.5 billion in cash and approximately 540 million Adevinta shares which would represent an equity stake of approximately 44% based on the number of Adevinta's outstanding shares, as of the end of the second quarter, and a ~33.3% voting stake.
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